Public Employees Retirement System of Ohio Has $154,000 Position in Granite Construction Incorporated (NYSE:GVA)

Public Employees Retirement System of Ohio held its stake in Granite Construction Incorporated (NYSE:GVA) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,064 shares of the construction company’s stock at the end of the first quarter. Public Employees Retirement System of Ohio’s holdings in Granite Construction were worth $154,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GVA. Suntrust Banks Inc. raised its stake in Granite Construction by 178.1% in the first quarter. Suntrust Banks Inc. now owns 34,353 shares of the construction company’s stock valued at $1,724,000 after buying an additional 22,000 shares during the last quarter. American Century Companies Inc. raised its stake in Granite Construction by 0.4% in the first quarter. American Century Companies Inc. now owns 160,944 shares of the construction company’s stock valued at $8,078,000 after buying an additional 600 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in Granite Construction by 7.8% in the first quarter. Schwab Charles Investment Management Inc. now owns 244,743 shares of the construction company’s stock valued at $12,284,000 after buying an additional 17,803 shares during the last quarter. BlackRock Inc. raised its stake in Granite Construction by 19,890.7% in the first quarter. BlackRock Inc. now owns 3,988,954 shares of the construction company’s stock valued at $200,206,000 after buying an additional 3,969,000 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Granite Construction by 676.4% in the first quarter. Wellington Management Group LLP now owns 194,498 shares of the construction company’s stock valued at $9,761,000 after buying an additional 169,448 shares during the last quarter. Hedge funds and other institutional investors own 93.96% of the company’s stock.

Granite Construction Incorporated (GVA) traded up 1.73% during trading on Friday, hitting $52.36. 311,589 shares of the stock traded hands. Granite Construction Incorporated has a one year low of $42.59 and a one year high of $62.18. The stock has a market cap of $2.09 billion, a PE ratio of 47.64 and a beta of 1.20. The company has a 50-day moving average price of $50.13 and a 200 day moving average price of $50.93.

Granite Construction (NYSE:GVA) last announced its earnings results on Tuesday, August 1st. The construction company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by $0.25. Granite Construction had a net margin of 1.61% and a return on equity of 4.80%. The business had revenue of $762.90 million during the quarter, compared to analyst estimates of $684.32 million. During the same quarter last year, the business posted $0.35 earnings per share. The business’s quarterly revenue was up 26.2% compared to the same quarter last year. Analysts expect that Granite Construction Incorporated will post $1.53 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were paid a $0.13 dividend. The ex-dividend date of this dividend was Wednesday, June 28th. This represents a $0.52 dividend on an annualized basis and a dividend yield of 0.99%. Granite Construction’s dividend payout ratio (DPR) is presently 48.60%.

ILLEGAL ACTIVITY NOTICE: “Public Employees Retirement System of Ohio Has $154,000 Position in Granite Construction Incorporated (NYSE:GVA)” was originally reported by StockNewsTimes and is the sole property of of StockNewsTimes. If you are accessing this piece on another domain, it was illegally stolen and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this piece can be read at https://stocknewstimes.com/2017/08/12/public-employees-retirement-system-of-ohio-has-154000-position-in-granite-construction-incorporated-nysegva.html.

Several analysts have weighed in on GVA shares. BidaskClub lowered shares of Granite Construction from a “sell” rating to a “strong sell” rating in a research note on Thursday, July 27th. FBR & Co lowered their price target on shares of Granite Construction from $67.00 to $63.00 and set an “outperform” rating for the company in a research report on Wednesday, May 3rd. Canaccord Genuity restated a “buy” rating and set a $70.00 price target on shares of Granite Construction in a research report on Wednesday, May 3rd. Finally, Zacks Investment Research lowered shares of Granite Construction from a “hold” rating to a “strong sell” rating in a research report on Friday, April 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $62.14.

In other news, Director William Howard Powell sold 3,000 shares of the firm’s stock in a transaction on Thursday, June 15th. The stock was sold at an average price of $49.60, for a total value of $148,800.00. Following the completion of the sale, the director now directly owns 49,858 shares in the company, valued at $2,472,956.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director James Hildebrand Roberts sold 17,442 shares of the firm’s stock in a transaction on Friday, June 9th. The shares were sold at an average price of $50.34, for a total value of $878,030.28. Following the completion of the sale, the director now owns 54,594 shares of the company’s stock, valued at $2,748,261.96. The disclosure for this sale can be found here. Company insiders own 1.30% of the company’s stock.

Granite Construction Company Profile

Granite Construction Incorporated is a heavy civil contractor and construction materials producer in the United States. The Company operates through three segments: Construction, Large Project Construction and Construction Materials. The Company operates across the nation, serving both public and private sector clients.

Institutional Ownership by Quarter for Granite Construction (NYSE:GVA)

Receive News & Ratings for Granite Construction Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Granite Construction Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply